Or how the Germans can force the US to bailout the Eurozone by allowing Deutsche Bank to “fail”. Taunus Corp is the U.S.’s eighth-largest bank holding company. Taunus is the North American subsidiary of Germany’s Deutsche Bank.
Think I’m looney?. The Germans are already playing one big game of “chicken” with investors and the people of PIIGS (Not that these investors and people deserve our sympathy.) Waz another bloodless variation of this game to the nation whose leaders in the 20th century started two world wars in the hope of global domination, or at least European domination.
And the IMF has in what appeared to be an attempt to help countries such as France and Spain stave off the crisis, the IMF said that member countries with a track record of implementing “sound policies” could access up to 10 times their contributions to the fund. It did not say which countries it meant but said it was establishing a flexible liquidity line which would act as “insurance against future shocks and as a short-term liquidity window to address the needs of crisis bystanders”.